Deribit, a crypto futures and options exchange that is moving from the Netherlands to Panama to avoid Europe’s new Anti-Money Laundering law has released its newly updated Know Your Customer (KYC) policy. In a Jan. 17 blog post, Deribit clearly said that its relocation to Panama has been mainly caused by the new Anti-Money Laundering Directive (5AMLD), a major European law that aims to tackle money laundering and terrorist financing by stricter regulation of crypto-related businesses. While 5AMLD was enforced on Jan. 10, 2010, 5AMLD has not been adopted in the Netherlands to date, but is still expected to come …

Crypto traders see potential for other market platforms to exit after crypto derivatives exchange Deribit announced a move to Panama from its EU base in the Netherlands. "This is something they had hinted at in an interview months ago, and it’s something I fully expect we see more of going forward in the crypto space,” trader, Twitter personality and co-host of the Crypto Street Podcast Prince told Cointelegraph in a message. Exiting EU Deribit broke the news on Jan. 9, explaining its platform will move to Panama from the Netherlands, owing to stringent EU regulations the Netherlands may soon adopt, …

Crypto derivatives exchange Deribit is leaving the European Union for Panama to avoid new AML rules while changing its Know Your Customer (KYC) requirements. Deribit B.V., the current Netherlands-based company responsible for the Deribit.com exchange, will officially delegate the trading platform to its daughter company, DRB Panama Inc. on Feb. 10, 2020, a Jan. 9 statement from Deribit said. Changing regulatory winds Deribit has decided to transfer to Panama based on the stated likelihood of tightening regulatory demands in the Netherlands, resulting from similar demands seen across the EU, the Deribit statement noted. These requirements, known as 5AMLD, pertain to …

Cryptocurrency startup Pundi X announced that its point-of-sale payment gateway (XPOS) will soon be launched in Panama and its surrounding regions. Blockchain development company Chainzilla joined the initiative as a local distributor. Combining cryptocurrency and traditional payments in one terminal On Aug. 14, Cointelegraph in Spanish spoke with Chainzilla CEO, Charles Gonzales, to find out more details. According to Gonzales: "Recently, Pundi X integrated its module into the Verifone X990. This is an important development because this payment processor is compatible with both cryptocurrency and traditional payments. [...] That means that a seller can process crypto payments alongside other Visa …